Sebi imposes Rs 5 lakh fine on Sunrise Proteins

Capital market regulator Sebi today imposed Rs 5 lakh penalty on Sunrise Proteins for failing to make annual disclosures to the stock exchanges within the stipulated time for a period of 13 years.
As per Sebi norms, listed firms are required to make yearly disclosures to stock exchanges about changes, if any, in their shareholding patterns, within 30 days from the fiscal ending March 31.
However, Sunrise Proteins, listed on the Delhi Stock Exchange (DSE), failed to comply with the norms for the years 1998 to 2010.
Accordingly, in an order today, the the Securities and Exchange Board of India has imposed "a penalty of Rs 5 lakh on Sunrise Proteins Ltd".

It said: "Since the noticee (Sunrise Proteins) company failed to produce proof of filing necessary disclosures to the DSE, it can be concluded that the noticee has failed to make the necessary annual disclosures...That too for a period of 13 years.